With knowledge gained over the past 50 years, the Ministry of Development continues to steer Turkey’s economic, social, and cultural development efforts.

The Undersecretariat of State Planning Organization, which was founded in 1960, was restructured as the Ministry of Development in 2011 with the Decree Law No. 641 to carry out Turkey’s development mission.

The Ministry of Development prepares strategies, plans, and programs geared towards attaining sustainable development and increasing social welfare within the changing social and economic conditions.

The Ministry’s Main Duties are to:
  • have a coordination role with other ministries and public institutions in the field of economic, social and cultural policies.
  • prepare Development Plans, Medium-Term Programs, Annual Programs, and Investment Programs
  • develop macroeconomic, sectoral, thematic, and regional policies and strategies as well as prepare action plans
  • reflect Turkey’s strategic priorities during the allocation process of public resources for public investments and to administer the resources
  • guide, coordinate, monitor, and evaluate implementation of plans, programs policies, and strategies
  • develop institutional structure and functioning in the public sector and carry out activities to realize central alignment and guidance in the areas of institutional strategic management and planning
  • contribute to international economic and social collaboration to coordinate and execute regional, multilateral and bilateral development cooperation programs and projects
  • coordinate information society transformation
  • conduct development studies
  • have a coordination role for regional development administrations and development agencies
    The Turkish International Cooperation and Development Agency (Türk İşbirliği ve Kalkınma İdaresi Başkanlığı, TİKA) is a government department of the Prime Ministry of Turkey. TİKA is responsible for organization of the bulk of Turkey's official development assistance to developing countries.

    On 25 December 1991, the Union of Soviet Socialist Republics (USSR) dissolved, which resulted in many countries in Central Asia and Caucasia gaining their independence. Having a common language and a shared social memory and culture with these countries, that are comprised of Kazakhstan, Tajikistan, Uzbekistan, Azerbaijan and Kyrgyzstan, paved the way for the resurgence of dual and regional relations with them. Turkey and the countries in Central Asia consider themselves as one nation containing different countries, and our foreign politics displayed a multilateral and proactive understanding in the region. The relations with the Turkish speaking countries has become a permanent focus for Turkey and this focus gained in importance in the most recent 20 years of global politics.

    As a prolongation of Turkey’s efforts to become an important player in the area and in the world, since the 2000’s TİKA’s conception of foreign policy underwent important changes. In accordance with this change, TIKA enlarged its activity area - it increased the number of Programme Coordination Offices from 12 in the year 2002 to 25 in 2011, and to 33 in 2012. Today, the Turkish International Cooperation and Development Agency is in service with 50 Programme Coordination Offices in 48 cooperation partner countries. Related to the active and principled foreign policy, the number of countries wherein TİKA carry out projects also increases every passing day. At the basis of its projects, Turkey tries to establish a peaceful environment directed at its close neighbours and achieves this through TIKA.

    TIKA carries out the task of being a cooperating mechanism for the state institutions and organisations, universities, non-profit organisations and the private sector. In addition, it functions as a platform for these actors to come together and it records the development aid carried out by Turkey.

    While the development aid of Turkey comprised about 85 Millions of USD in 2002, this amount reached 1 Milliard 273 Millions of USD in 2011. TIKA is ranked amongst the Turkish organizations that carry out most technical co-operations with Turkic speaking countries.

    Focusing on development collaboration, TIKA works in 120 countries, including the ones where their offices are located. Our country shares her knowledge and experience through TIKA, with many countries from the Pacific to the Central Asia, from the Middle-East and Africa to the Balkans and from Caucasia to South America.
    As the country’s monetary authority, the Central Bank of the Republic of Turkey (CBRT) is responsible for implementing monetary and exchange rate policies and printing banknotes in Turkey.

    The CBRT was established as a joint stock company on 11 June 1930. The primary objective of the Bank is to achieve price stability. The CBRT is also responsible for taking measures to sustain the stability of the financial system in Turkey. Particularly, the Bank strives to contain the macro financial risks stemming from global imbalances. Accordingly, maintaining financial stability is defined as the supporting objective of the Bank.

    The privilege of printing banknotes in Turkey was initially vested with the Grand National Assembly of Turkey. The Assembly has transferred the privilege of printing and issuing banknotes exclusively and indefinitely to the CBRT.

    One of the main responsibilities of the CBRT is to determine the exchange rate regime jointly with the government. The CBRT is responsible for and authorized to design and implement the exchange rate policy in line with the agreed exchange rate regime. Since 2001, the floating exchange rate regime has been implemented in Turkey.

    The CBRT is in charge of managing the gold and FX reserves of Turkey. Reasons for holding international reserves are to establish and maintain confidence in monetary and exchange rate policies, provide FX liquidity for the Treasury’s domestic and foreign debt services, reduce the economy’s susceptibility to endogenous and exogenous shocks, boost the confidence of international markets in the Turkish economy.

    The CBRT is also responsible for establishing and securing the uninterrupted functioning of payment, security transfer and settlement systems to enable safe and swift transfer of money and securities.
    Al Baraka is today at the forefront of Islamic banking and emphasizes commitment to becoming the natural global leader in Islamic banking. Al Baraka is a strong symbol of not only uniting of all subsidiaries under a single banner, but stands for building trust and adding value to the lives of our customers. The Unified Corporate Entity of Al Baraka links the philosophical dimension of participation and partnership and the equitable sharing of risk and reward - upon which Islamic banking is based.

    Al Baraka Banking Group has a wide geographical presence in the form of subsidiary banking Units and representative offices in fifteen countries, which in turn provide their services through over 496 branches. Al Baraka currently has a strong presence in Jordan, Tunisia, Sudan, Turkey, Bahrain, Egypt, Algeria, Pakistan, South Africa, Lebanon, Syria, Iraq and Saudi Arabia, including two representative offices in Indonesia and Libya.